The time of accumulation is accepted as the tax point. This is the time a accumulation occurs. Knowledge of the tax point is capital for cashflow forecasting and optimising.
“The time of accumulation is accordant to both the supplier and the recipient. The supplier will account by the time of accumulation actuality as backward as possible, admitting the almsman will account from the time of accumulation actuality as aboriginal as possible.” De Koker and Jenkinson folio 8-3.
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